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Going long on XRP? Here is what you should know before you jump in

admin2022-11-18T00:30:20+00:00

Immediate targets for long trades are at two Fib levels and $0.4465 Improved sentiment and development activity propping up XRP price Ripple (XRP) has shown mild bullish momentum on the lower timeframe charts. On the daily chart, XRP is facing four resistance levels to reach its October levels. At press time, XRP was trading at $0.3795.  If the bulls build enough buying pressure and the range is above the 0.236 Fib level support zone, the following resistance levels can be targets for...

Genesis Sought $1B Loan Before Halting Redemptions

admin2022-11-17T23:24:14+00:00

Key Takeaways

Genesis reportedly sought a $1 billion emergency loan before it suspended withdrawals this week. The Wall Street Journal obtained an internal document to that effect and reported the news today. Genesis has denied the document's relevance and stated that it is in positive discussions with investors.

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Early this week, crypto lending firm Genesis sought a $1 billion emergency loan from investors without success before halting withdrawals Wednesday.

Genesis Sought Emergency Loan

Genesis Global Trading sought an emergency loan before halting withdrawals...

U.S. Regulators May Face Scrutiny Over FTX Links

admin2022-11-17T21:45:01+00:00

Key Takeaways

FTX's collapse has raised suspicions about why regulators could not see the fraud coming. FTX filled key positions with former regulators with ties to both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Critical momentum is gathering against Sam Bankman-Fried and those caught in his orbit.

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FTX’s ties to political and regulatory figures—especially those who have received donations from its principal executives—have raised suspicions.

Scrutiny for U.S. Regulators

Several former U.S. regulators, including commissioners of the...

Aptos’ social engagement spikes, but investors needn’t be too happy

admin2022-11-17T19:30:00+00:00

Aptos witnessed interest on the social front  Its TVL continued to decline despite changes in its ecosystem Along with many other cryptocurrencies, Aptos too faced the impacts of the FUD generated by the FTX debacle. However, over the past few days, APT managed to perform well. Read Aptos’ price prediction 2022-2023 One of the reasons for the improvement in performance could be the spike in the social activity of Aptos. As can be seen from the image below, Aptos’ social engagements grew significantly....

FTX Fraud: More Bombshell Revelations in New Bankruptcy Filing

admin2022-11-17T18:42:00+00:00

Key Takeaways

A filing from FTX's new CEO has more thoroughly revealed the shocking state of the company's finances. New FTX CEO John J. Ray III, who oversaw Enron's dissolution, wrote that he had never seen "such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”  The document is likely the tip of the iceberg, but it has already revealed negligent accounting practices, regular deletion of corporate communications, secret loans from corporate accounts,...

Sam Bankman-Fried Set To Face Criminal Charges For Fraud

admin2022-11-17T16:53:15+00:00

In yet another setback for FTX founder Sam Bankman-Fried, authorities in the U.S. are likely to take the legal route. The office of Manhattan US attorney is preparing criminal charges against Sam Bankman-Fried and the crypto exchange FTX. The charges would likely be for defrauding customers. Earlier, the new CEO of the exchange John Ray criticized SBF’s management style in a court filing.

Criminal Charges Against Sam Bankman-Fried

The Manhattan authorities are likely looking into the alleged diversion of funds between...

Faulty FTX Data During Takeover Discussions

admin2022-11-17T12:18:57+00:00

Binance CEO CZ Latest Comments: CZ said in an interview with CNBC that data provided by FTX seemed unreliable. During the discussion around Binance’s potential takeover of FTX, fund misappropriation was evident, he said. After announcing that his company was considering the acquisition of FTX, the Binance team eventually pulled out of the deal. Binance had a that time blamed it on errors in due diligence process for withdrawing from the takeover process.

The Takeover Attempts

Prior to that, Binance signed a...

SBF To Testify In Front Of GOP House?

admin2022-11-17T07:47:41+00:00

FTX Crash News: The digital asset market collapse triggered by the debacle of FTX, the crypto exchange has reached the U.S. House of Representatives. Reports suggest that the group of representatives is planning to launch a hearing of Sam Bankman-Fried (SBF) over the FTX crash.

US Rep to look into FTX crash

Charles Gasparino, a Fox Business Journalist reported that a GOP house is looking for a hearing into SBF created debacle. The hearing will focus on...

Is Genesis the latest victim of the FTX contagion? Here’s the unsaid truth

admin2022-11-17T07:12:03+00:00

Genesis announced it was pausing its withdrawals but other features running A couple of crypto projects have come out to state their exposure or lack of it to Genesis Another blow has been dealt to the cryptocurrency industry just as it was beginning to recover from the ripple effects of the FTX crash and apparent bankruptcy filing. This November has been a brutal one for cryptocurrencies, and now Genesis has stated that it would no longer be processing withdrawals. How far...